Bitcoin: is it a bubble waiting to burst or a good investment? - page 2.

Parodium

sr. member

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DMs have been disabled. I am busy.

Quote from: NUFCrichard on December 02, 2017, 04:04:39 PM

Quote from: Slark on December 02, 2017, 03:58:27 PM

Bitcoin is on the brink of mainstream adoption and we can see with our own eyes that network effect starting to kick in.
At the same time, it is still niche, an unknown phenomenon and nerd money for a majority of 'normal' people.
I am not surprised that people are not asking about bitcoin payments because even bitcoins users assume that no brick and mortar shop accepts BTC so there is no use to even ask.

So it isn't actually used, but it has a higher value than the total number of GBP or Rubles that are in circulation?

I am pretty sure that the GBP and Ruble are actually used everyday by a very large number of people, Bitcoin is used by a few people but is generally just used as a store of value.

A store of value is all good and well, but actually given what Bitcoin is, that is all just based on trust, and that can go down a lot.

Bitcoin can't be used as a currency, it isn't fast enough or have enough capacity to do so, that could change if improvements are made, that is IF improvements are made, who knows if and when that will happen. I definitely think we are nearer to the top of the price curve than the bottom now, it's rising very quickly for no real reason,

It appears to me that bitcoin is rising simply because it is used as an investment, I think in order for it to break the $50-100k mark there will need to be improvements in the block size and release of a functional lightning network, which will prompt adoption by bigger corporations.

Rousse

newbie

Activity: 42

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For me it's like a niche investement, can create a lot of profit and will certainely not die in an hour !!

Anyway, never invest what you can't lose.

NUFCrichard

legendary

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Merit: 1003

Quote from: Slark on December 02, 2017, 03:58:27 PM

Bitcoin is on the brink of mainstream adoption and we can see with our own eyes that network effect starting to kick in.
At the same time, it is still niche, an unknown phenomenon and nerd money for a majority of 'normal' people.
I am not surprised that people are not asking about bitcoin payments because even bitcoins users assume that no brick and mortar shop accepts BTC so there is no use to even ask.

So it isn't actually used, but it has a higher value than the total number of GBP or Rubles that are in circulation?

I am pretty sure that the GBP and Ruble are actually used everyday by a very large number of people, Bitcoin is used by a few people but is generally just used as a store of value.

A store of value is all good and well, but actually given what Bitcoin is, that is all just based on trust, and that can go down a lot.

Bitcoin can't be used as a currency, it isn't fast enough or have enough capacity to do so, that could change if improvements are made, that is IF improvements are made, who knows if and when that will happen. I definitely think we are nearer to the top of the price curve than the bottom now, it's rising very quickly for no real reason,

Slark

legendary

Activity: 1862

Merit: 1004

Bitcoin is on the brink of mainstream adoption and we can see with our own eyes that network effect starting to kick in.
At the same time, it is still niche, an unknown phenomenon and nerd money for a majority of 'normal' people.
I am not surprised that people are not asking about bitcoin payments because even bitcoins users assume that no brick and mortar shop accepts BTC so there is no use to even ask.

salterious

full member

Activity: 258

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The revolutionary Export system/One-click Export

It is considered niche among those who are big investors? Man well that ever be a thing of the past after 2018 because I don't see a price tag being under 25k once all these funds start getting in this coming year. I doubt it will be niche after that the exposure will be absolutely massive.

swaptaker

full member

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Quote from: HabBear on December 02, 2017, 03:34:42 PM

Quote from: mayuri27 on December 02, 2017, 03:13:57 PM

Bitcoin is the fastest-growing asset in the world this year

You answered your own question! It's been a great investment. It will continue yo be a great investment because supply is finite.

You're using the wrong data for your analysis. London's Tech Center means nothing in thr global Bitcoin marjet. Silicon Valley's opinion means something, Bitcoin was born out of this community.

The fact that ppl are 't using it for transactions at your local pub just means that it's not being used as a currency, it says nothing about its value as an investment asset.

There will certainly be down days, weeks, months, but Bitcoin hasa lot more growing to do. If you don't investtoday you'll just be one day older when you do!

We really need experienced users like you but some people are very panicking by seeing bitcoin as a bubble. Bitcoin is actually not a bubble. It only undergoes hard speculation and its price reacted this very harshly.

HabBear

hero member

Activity: 1106

Merit: 637

Quote from: mayuri27 on December 02, 2017, 03:13:57 PM

Bitcoin is the fastest-growing asset in the world this year

You answered your own question! It's been a great investment. It will continue yo be a great investment because supply is finite.

You're using the wrong data for your analysis. London's Tech Center means nothing in thr global Bitcoin marjet. Silicon Valley's opinion means something, Bitcoin was born out of this community.

The fact that ppl are 't using it for transactions at your local pub just means that it's not being used as a currency, it says nothing about its value as an investment asset.

There will certainly be down days, weeks, months, but Bitcoin hasa lot more growing to do. If you don't investtoday you'll just be one day older when you do!

Avdotiy

member

Activity: 168

Merit: 10

My opinion, it behave like bubble, but you still can earn a lot of money on it..
We have to control situation with our money, because it becomes more and more risky every day Wink

pushups44

sr. member

Activity: 854

Merit: 281

Bitcoin will experience the same phenomenon the internet companies went through, with similar cycles or waves in price, given its transformative role in society. I think we are far too early to talk about the peak but when it comes it will be violent. The positive thing for investors is that bitcoin is scarce.

player514

legendary

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Merit: 1039

Quote from: mayuri27 on December 02, 2017, 03:13:57 PM

Bitcoin is the fastest-growing asset in the world this year, but the virtual currency does not appear to have many users in London’s tech district. It has been more than a month since bitcoin was used to buy a flat white or craft beer sold at the Old Shoreditch Station, according to the hospitality manager at the east London bar.
Louis Chauvin admits he cannot find the iPad that is used by staff for processing bitcoin payments, as he resumes serving customers queueing to pay with their contactless bank cards. Although the establishment sits in the capital’s buzzing tech hub, and is advertised online as one of the few retailers in London accepting the hipster-cum-computer nerds’ currency, as few as 20 people have asked to pay with it in the two years he has worked there.

Over the same period, the value of a single bitcoin has rocketed from around $300 to more than $11,000 this week. On Friday, the currency was trading at $10,700.

Chauvin says bitcoin’s increasing value – and media coverage – has not escaped customers. More people have come in asking how it works, thinking of using it in their own shop, rather than actually paying with it, he says, adding: “It’s cool, it attracts some people. But for now it’s niche.”

It's hard to see what it really is, and I'm sure no one really has the ability to see when a drop or rise is coming up other than those who control it. I think bitcoin is both a bubble but also a good investment due to how many whales are involved now. They've started a cycle of dropping and rising the price, but if you get in now, you can make the best out a few of those cycles.

deadshot21

newbie

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given the somewhat outdated technology of bitcoin, I think we can say that it is both at the same time, a good investment in a bubble ahha

mayuri27

newbie

Activity: 56

Merit: 0

Bitcoin is the fastest-growing asset in the world this year, but the virtual currency does not appear to have many users in London’s tech district. It has been more than a month since bitcoin was used to buy a flat white or craft beer sold at the Old Shoreditch Station, according to the hospitality manager at the east London bar.
Louis Chauvin admits he cannot find the iPad that is used by staff for processing bitcoin payments, as he resumes serving customers queueing to pay with their contactless bank cards. Although the establishment sits in the capital’s buzzing tech hub, and is advertised online as one of the few retailers in London accepting the hipster-cum-computer nerds’ currency, as few as 20 people have asked to pay with it in the two years he has worked there.

Over the same period, the value of a single bitcoin has rocketed from around $300 to more than $11,000 this week. On Friday, the currency was trading at $10,700.

Chauvin says bitcoin’s increasing value – and media coverage – has not escaped customers. More people have come in asking how it works, thinking of using it in their own shop, rather than actually paying with it, he says, adding: “It’s cool, it attracts some people. But for now it’s niche.”

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